What's in Store for Charter Communications (CHTR) in Q1 Earnings?

Zacks Equity Research

24 April 2024 at 10:08 am·3-min read

Charter Communications CHTR is set to report its first-quarter 2024 results on Apr 26.

The Zacks Consensus Estimate for first-quarter 2024 revenues is pegged at $13.72 billion, indicating a 0.53% increase from the year-ago quarter’s reported figure.

The consensus mark for earnings has moved down 11 cents to $7.67 per share in the past 30 days, suggesting an increase of 15.34% from the figure reported in the year-ago quarter.

CHTR’s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters and missed twice, the average negative surprise being 4.2%.

Let’s see how things are shaping up for the upcoming announcement.

Charter Communications, Inc. Price and EPS Surprise

Charter Communications, Inc. price-eps-surprise | Charter Communications, Inc. Quote

Factors to Consider

Charter Communications’ strategic investments in network infrastructure and fiber-optic construction, particularly through Spectrum's expanding network, are likely to have contributed to CHTR’s prospects in the to-be-reported quarter.

Continuous enhancements in the company's Spectrum One network have been a major growth driver. Fourth-quarter total residential and SMB Internet customers increased 61K. As of Dec 31, 2023, Charter Communications served a total of 7.8 million mobile lines. The momentum is expected to have continued in the to-be-reported quarter. The Zacks Consensus Estimate for mobile lines’ net additions in the first quarter is pegged at 480K.

CHTR’s total residential revenues are likely to reflect a strong momentum in its mobile service segment, partly offset by lower voice and video revenues. A higher mix of non-video customers and growth of lower-priced video packages is expected to have kept the top line under pressure.

In the to-be-reported quarter, Charter Communications partnered with Disney DIS to bring ESPN+ for Spectrum TV Select Plus customers at no additional cost. This partnership offers subscribers access to a wide range of exclusive sports.

The Zacks Consensus Estimate for total residential revenues is pegged at $10.78 billion, indicating a decline of 0.6% year over year. The consensus mark for total residential customer relationships is pegged at 29.85 million, suggesting a decline of 0.5% year over year.

The top-line growth in the to-be-reported quarter is expected to have been affected by the increasing competition in the cable space and sluggish Internet subscribers’ addition rate.

What Our Model Says

Per the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.

CHTR has an Earnings ESP of +0.73% and a Zacks Rank #4 (Sell) at present. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Stocks With the Favorable Combination

Here are some stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings this season.

AptarGroup ATR has an Earnings ESP of +0.59% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

AptarGroup is set to announce first-quarter 2024 results on Apr 25. The Zacks Consensus Estimate for ATR’s earnings is pinned at $1.13 per share, indicating growth of 19% from the year-ago quarter’s reported number.

Cardinal Health CAH has an Earnings ESP of +1.11% and a Zacks Rank #3 at present.

CAH is scheduled to release third-quarter fiscal 2024 results on May 2. The Zacks Consensus Estimate for CAH’s earnings is pegged at $1.95 per share, indicating growth of 12.07% from the year-ago quarter’s reported figure.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Cardinal Health, Inc. (CAH) : Free Stock Analysis Report

The Walt Disney Company (DIS) : Free Stock Analysis Report

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Charter Communications, Inc. Price and EPS Surprise

Factors to Consider

What Our Model Says

Stocks With the Favorable Combination

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